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tv   [untitled]    December 15, 2014 12:00pm-12:31pm PST

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none, i'll open two to three up for. welcome back claire >> thank you we're trying to actually looking at slide 27 and the comments about new benefits formula for miscellaneous and safeties see below that the new hires to specifically (inaudible) to 55 is that possible to get a better explanation i'm trying to figure out if this is moving people out of the benefits to assigned contributions or why there's a significant reduction in the pension benefits because i think those supported prop c were novelist aware they would be
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getting a significant reduction in their pension he or they won't have supported this we're retired and don't have to worry about it but our brothers and sisters that are working in the staff will probably want to know why their pensions are effected. >> is that a question or comment for russel. >> seeing none, no other public comment i'll close. the calory k chairing will entertain a motion of adaptation and participation recommendations >> i'll move it. >> second. >> discussion on the motion seeing none, all in favor, say i. >> i. >> passes unanimously please call item 11. >> (inaudible) world core
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entity within the teetering a target. >> the chair will accept it as explanatory i'll open it up for another motion. >> recommendations. >> i move we accept this funds. >> i'll second it. >> great discussion on the motion? seeing none, i'll open up for public comment welcome back >> commissioner melberger. >> just to get a braider mandate is that the purpose. >> ling les low when we made the recommendation to get properly capitulated endorse through the global entity fund we needed to
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compensate by having international because the global funds stan on it's own it was not capitulated so, now there's a a fund it is capita laid we can streamline from 43 to 2 we'll keep emerging for the reasons that russel outlined but the newer global equities fund will give appropriate capita laid exposure it is more streamlined but the rates will be automating adjust. >> all the different markets will be capitalization so if you - could you give us an idea 1,
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2, 3 which are the biggest countries a round number. >> china would be the biggest and brazil. >> brazil is the second they're about 18 and say 14 or 15 percent respectfully and the other 9 or 9 and a half. >> this is the place. >> thank you very much. >> any other questions or comments all in favor, say i. passes unanimously thank you could you call item 12 please. an action item review and approval for the san francisco ethics commission 456 policy statement. >> board members the investment statement was last reviewed by you in early 2012 we'll have significant changes changed
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third partied administrator and india a rose option and in consideration of those changes staff and angle he's reviewed the statement the changes are the significant items and, of course, we take advantage to move things around and streamlined and made it easier to read anglely is here to answer any questions you have. >> any questions of staff seeing none, i'll open up for public comment on item 12 seeing none, i'll close. >> i move we adapt the past recommendation. >> any discussion to the motion. >> yes, sir. >> you have the changes for the item you've presented do you have the final copy or only the changes. >> i have the changes
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we this is a lot easier to read we were hopefully that rather than giving two but we're happy to provide you with a clean copy. >> so i know what the after picture is all in favor, say i. >> i. >> passes unanimously thank you item 13 and item 13 a discussion item the deferred compensation manager report. >> good afternoon uh-huh. >> board members you have the models activity i want to provide you with american people implementation of gold maker the report says 5 hundred and 16 new gold maker participant but i believe as of the end of last year it's been updated to 5 hundred and 87 we're trying to do at this point to determine a
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way to provide you with the information that i know you're interested in where that's coming from is a member a new member or someone that is taking money in the target day funds we've working with the committee and prudential trying to figure out out we can't provide with you specifics i wish we could i want to say briefly we shall getting in the new year we'll be trying to roll out gold maker nor robustly than in the past. >> thank you questions or comments none i'll open up for public comment on 13 seeing none, i'll close public comment on page 2 your self-directed brokerage are we happy with that
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number where do we think we're going with self-direct. >> that's an interesting question i'll say we do not actively we don't actively tell members or courage them i should say courage them to use that alternative generally speaking that alternative is raised to a participate if they ask if there are other funds available to them and okay. i guess this is an observation considering we're not advertising are the numbers rather larger it shows how interested people are and how much they're watching it i that that could have been zero in a
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short period of time it's a pleasing number. >> if a fund is termed and they want to stay in the fund do don't we put it in the self-brokerage account. >> i won't say that pimco you were able to move that into the self-directed broernl it is one of the funds available but i don't think i'm going to have to defer to prudential i don't think we've specifically put. >> fund into an option in the self-directed brokerage opposition; is that correct. >> let's say let's follow pimco
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let's say the participant wants to keep it how and as a followup we're going to be rolling out the registered advice we're waiting for a finalization to the forms which will include waivers so we will not necessarily promote it but we'll definitely make sure that people are aware through the self-directed brokerage they can authorize prudential to actually collect fees on their behavior from the registered advisors i wanted to give you an update what we expect by the end of the year we'll have the forms online
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and again at least make people aware it's available. >> it could increase the folks with are using the self-directed options acommissioner driscoll. >> the imcredential costs it is basically, it but if members wish to take advantage to deal with the situation like pimco could the example one their lout and two a fee to pay and those hairs in the brokerage windows are using retail shares not institutional shares and several fees off of the members number one they may have to pay more but that's their choose. >> thank you, everyone call item 14 and item 14 is discussion item educational
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presentation by the itself office of the city attorney and the reporting requirements. >> i'd like to introduce deputy city attorney from our ethnics team amending. >> thank you very much so the rules and information i want to talk about are in your packet i apologize to the outside u audience we were not able to get it on the monitor but it is in our packet so to any public comment? to do before this afternoon about the rules that apply to city officials if this is a combination of both state and local laws but before i talk about that i want to say at the outset me and other people in
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the office we're happy to sit down and discuss those issues i'm providing my level basics there are a lot of expectations and expectations to expectation it is best to talk about examples to work out what are the applicable rules that deal with a city official to jump into the topics one of the things i want to say really the first question what is a gift what is a gift is is surprising hard to find it is difficult for a lawyer but certainly there are rules and opinion what constitute a guest a gift guest is anything of value that is not ruptured of equal value
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and a an example of a guest it can be a cup of coffee are a pair of baseball ticketed a a guest of travel or a holiday guest it is a broad example there has to be expectations and actually it for example, guest for family members certainly, if my wife gave me a christmas guest it is not to be recorded and expectations for informational material to the extent someone wants to give you a book or a conference where it is relevant and another common guest exception are toikts nonprofit fundraiser often a city official is approached to
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attend a fundraiser that provided the tickets to people in exception and if so none of the rules apply i'll talk about that more but two categories boo both guest disclosures and guest limits another strategy or another way to approach a guest if you disjointing doughnut want to deal with the reporting any guest the ovlsz office has the option of within thirty days of running the guest or pay fair market value and city official can donate it to charity within thirty days if the city official don't anything within the thirty days again, they're not subject to reporting or limited requirements >> now guest disclosure i'm
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going many of you have emancipation proclamation be countered throw in the form 6 hundred and need to file upon taking office and soon after leaving office as well under state law the officials are to report $50 from a single force if someone give us 320 there's guests you'll have to report those and certainly, if it's under 50 bucks you don't have to report that in addition to the guest disclosure requirement there is also an annual guest limit of $440 currently from a single source it is $440 as of january it is to there to $460
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null the next couple weeks in addition to the annual guest limit there is a local rule regarding guests it is the local restricted source rule an official can't accept a guest and two types of of restricted source anyone or entities doorknob with our department and seeking to do business wanting to enter into a contract with the department not one your personally voofld in negotiating but any contracted with our department as a whole and the second type of restricted source anyone that wants to influence you so in a conversation over the phone but initiated be
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person a with respect to administration active action in essence anyone that wants to lobby i is the second type of restricted source what happened in local law a restricted source is generally prohibit from giving you a guest the first exception from a restricted source the city official may receive non-cash like drinks and under 25 dollars or less up to 4 times a year mothering another exception is under the holiday season gift of food or drink like a food basket given to 0 city official is really not subject to rule that guest basket is blazed in the
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breakroom where everyone can par take of it it comes up this time of year. >> in addition to those other rules every city department has a statement of incapable activities this was a process started by the ethnics commission they did this competitive process to contact all departments specifics ethnics rules those activities have revibration as well one the general guest rules to the best of my knowledge for every department no city official may accept guests for doing their jobs no, thank you gifts so a specific gift rule officers including the board members may not accept gifts from anyone
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doing in their job and it is a specific definition of doing business. >> in my doing business is a recent contractor or brokerage any current vendor or supplier or anyone that has invests in the last 12 months this is what constitutes doing business for the first one. >> one other rule i want to touch on that has come up is there is also a local rule that generally prohibits receiving gifts from subordinates from people would work for you in the orientational chart or who are planning to work for you now like the gift rules generally some exceptions that
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come up during the holiday season one of the exception of the subordinate it's okay to receive or accept birthday or holiday gifts with less than $25 it's okay to receive wedding gifts asia okay toe receive gifts and share in the office like food baskets during the holidays so that's a very brief and i apologize it is too quick overview but i want to draw your attendance to the last page the resources page this is a the most significant slide in here and the very first point the city attorney's office is the competitive ethnics and meeting rules and frankly i'm one of the
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people that draft it i return to find the information open is topics certainly the city attorney's office it happy to help you can find me directly or katie she'll find me wherever she needed to or the ethics commission we communicate a debris but it can help with reaching the city officials that's my presentation but happy to sit down individually to go over particular circumstances at any time. >> i'll open up for. seeing none, i'll close public comment and open it up for questions by commissions >> i have one question
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gift rules you've laid do reapply only to elected officials or outline city employees. >> most of the rules i covered apply to i would say high-level officials included the collected officials department heads and commissioners and all the rules are high-level managers within the department may not low-level where they have a great or significant job responsibility but generally not limited to elected officials. >> it's a gray area with regards to the levels. >> it depends on the gift limits minority apply to a form obligation where someone falls if the hierarchy one thing i
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update is the interest code a long, long ordinance that all people in the city need to file a form seven hundred if you don't, you don't disclose those gifts like elected or members of the commissions high-level people and how far it goes down is up to the departments discretion. >> i'll point out that the departments s i a the statement of incapable activities applying applies to all officials on page 4 which is no employee can accept a gift of my value from any entities doing business with the city i want to point out that those are departmental standards they apply all the way up. >> my only concern throughout the city and all the departments
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frequently they've commented where where the sub orient pull money and buy gifts for the boss and i'm curious about that as a practice but it seems like that that may not apply with a mid-level manager there recent several requirements. >> depending on how last year the gift it i mentioned briefly there is an exception during the holiday season that's an example of where a humanly factual example. >> only the petty cash ones. >> jake. >> so does that mean that - >> bob. >> grab bob and go to diner are we not allowed to pay for
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dinner. >> bob i'm sorry i'm not familiar with bob. >> or anyone. >> okay. so the form 6 hundred all right. so the gift rule is from the sub orient to the aspire i don't think that rule will be implemented i'm assuming it is not a father-in-lawscy meal now if he's a form seven hundred filer you'll probably have to disclosure the value of the meal he, he received is more than $450 >> does the 440 cap apply to everyone that gives gifts so all my friends if they go over 440 or only a person.
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>> it's and source by source limit so person a a subject to seven hundred address subject b but it's a cumulative running total have you so look at all the gifts from january one to the next couple weeks. >> on oyour exception they can deduct a write off or maybe the function i attend was two people giving the function how does that work or is it the 5030 as long as that's on title and are those general ticket offend to you on the going rate. >> i have no example it's as an exception to a nonprofit you go
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to dinner and $500 cover for dinner he's a nonprofit obviously the meal is not worth 5 hundred so there's some value if that tiblt that goes to that organization use me they're using me to get to them by inviting me. >> let's say the tickets are offered for free from the nonprofit fundraiser and the 503 their offering to to you dribble you accepted the ticket from the nonprofit fundraiser directly technically the gift has a value of zero you don't need to report it and mr. cokeer is an example is involved in an organization that is a nonprofit he actively engaged to be he invites me and
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handbags to me i would look at that as an nonprofit fundraiser do you have to report it. >> if it's not given you to directly look at the nonprofit ticket when you buy a ticket maybe 5 hundred bucks only some portion goes to the event and the rest is for the nonprofit it's a fundraiser; right? so you have to value that gift as a non-portion of the ticket. >> the room refreshments i think that would be how you evaluate if it's not provided by the nonprofit and the gift of subordinate rule maybe in effect. >> your friend says i bought a table would you need to report
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that cost of that table from that friend. >> the initial valve didn't necessarily won't apply. >> let's say that was worthy the meal $150 do you have to write that down from the gift as a source. >> if depends on other gifts as the the co-relation. >> let's say it it has nothing to. >> i'm sorry. >> they have nothing to do with this they're off lot or whatever it is it is worth the meal the maelth meal is worthy $150 do you need to list that. >> there are exceptions that could apply it is


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